18 Dec 2015

USD/JPY ANOTHER BOUNCE FROM THE TRIANGLE RESISTANCE

USD/JPY DAILY

The rate has made yet another  unsuccessful test to the important 123.75 resistance which is also the large symmetrical triangle upper boundary and is now falling lower.

This indicates further range trading and a possible move towards the triangle support around 120.00.

A break above the 123.75 level is needed to establish new long positions as an indication the rate is ready to resume it's broader uptrend.


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